US-based celebrity video shoutout platform Cameo has completed a $50m series B round backed by over-the-top media company Chernin Group, it disclosed on Tuesday.
The round closed on June 17 and was led by Kleiner Perkins, which invested alongside venture capital firms Spark Ventures and Lightspeed Venture Partners as well as private equity firm Bain Capital.
Founded in 2016 and owned by Baron App, Cameo runs an online marketplace where users can order personal video shoutouts recorded by more than 15,000 prominent personalities to mark special occasions such as birthdays or weddings.
The platform takes a 25% cut of the rate set by its celebrity talent, which can range from $5 to $2,500. Part of the series B proceeds will help Cameo bolster its talent roster with personalities from a number of unspecified sectors.
The funding will also help fuel the company’s product development, growth and recruitment strategics, including further expansion into international markets and the introduction of more conversational shoutout features.
Cameo previously closed a $12.5m series A round in November 2018 that was led by Lightspeed and backed by Pritzker Group Venture Capital, Bedrock, Chicago Ventures, Starting Line, Origin Ventures and angel investors Jeff Wiener and Calvin ‘Snoop Dogg’ Broadus.
The series A followed $3.2m from undisclosed investors in February 2018, according to a regulatory filing, though Origin Ventures, Chicago Ventures, Starting Line and Weiner were all described by ChicagoInno as existing investors in the series A round.